Eaton (NYSE:ETN) Stock Rating Lowered by StockNews.com

Eaton (NYSE:ETN - Get Free Report) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a research note issued to investors on Tuesday.

ETN has been the topic of a number of other research reports. Royal Bank of Canada reduced their target price on Eaton from $405.00 to $376.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Melius cut Eaton from a "buy" rating to a "hold" rating and set a $373.00 target price on the stock. in a research report on Tuesday, January 28th. JPMorgan Chase & Co. dropped their target price on shares of Eaton from $350.00 to $289.00 and set an "overweight" rating for the company in a report on Tuesday, April 8th. Wells Fargo & Company lowered their price objective on shares of Eaton from $335.00 to $305.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 5th. Finally, KeyCorp cut their target price on shares of Eaton from $340.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 8th. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $350.22.

Eaton Stock Performance

ETN traded up $11.73 during trading on Tuesday, hitting $287.39. The stock had a trading volume of 2,751,088 shares, compared to its average volume of 2,633,634. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 0.96. The company has a 50 day moving average price of $282.46 and a 200-day moving average price of $323.96. Eaton has a one year low of $231.85 and a one year high of $379.99. The firm has a market cap of $112.59 billion, a price-to-earnings ratio of 30.25, a P/E/G ratio of 2.64 and a beta of 1.09.

Eaton (NYSE:ETN - Get Free Report) last announced its earnings results on Friday, January 31st. The industrial products company reported $2.83 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.82 by $0.01. Eaton had a net margin of 15.25% and a return on equity of 22.62%. During the same quarter last year, the firm posted $2.55 EPS. As a group, research analysts predict that Eaton will post 12.02 EPS for the current year.

Institutional Investors Weigh In On Eaton

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. J. L. Bainbridge & Co. Inc. increased its position in Eaton by 1.8% in the 1st quarter. J. L. Bainbridge & Co. Inc. now owns 163,459 shares of the industrial products company's stock valued at $44,433,000 after buying an additional 2,837 shares in the last quarter. Golden State Wealth Management LLC increased its stake in shares of Eaton by 99.4% during the 1st quarter. Golden State Wealth Management LLC now owns 2,219 shares of the industrial products company's stock worth $603,000 after purchasing an additional 1,106 shares during the last quarter. Patron Partners LLC boosted its position in Eaton by 9.6% during the first quarter. Patron Partners LLC now owns 3,016 shares of the industrial products company's stock worth $820,000 after purchasing an additional 263 shares during the period. Westend Capital Management LLC bought a new stake in shares of Eaton during the 1st quarter valued at $45,000. Finally, Crescent Grove Advisors LLC lifted its holdings in shares of Eaton by 28.9% in the first quarter. Crescent Grove Advisors LLC now owns 1,856 shares of the industrial products company's stock worth $504,000 after buying an additional 416 shares in the last quarter. 82.97% of the stock is owned by institutional investors.

Eaton Company Profile

Eaton Corporation plc operates as a power management company worldwide. The company's Electrical Americas and Electrical Global segment provides electrical components, industrial components, power distribution and assemblies, residential products, single and three phase power quality and connectivity products, wiring devices, circuit protection products, utility power distribution products, power reliability equipment, and services, as well as hazardous duty electrical equipment, emergency lighting, fire detection, explosion-proof instrumentation, and structural support systems.